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Family and the Economy - College Term Papers

Family and the Economy

Families and the Economy

As we all know, the American economy suffered from a major recession in late 2008. Effects were felt everywhere as the housing market collapsed. As the values of homes fell, people's mortgages remained extremely high and a record number of people became unemployed. Numerous amounts of families defaulted on their loans. The main cause for this recession was because of risky loans given to subprime candidates just for the sole fact that they knew they could sell them. Also, wages became increasingly stagnant while prices everywhere else rose by large amounts. This was a major eye opener in America and it made people notice the wealth distribution in our ...

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to find jobs, this can be a great strain on a marriage. As we know, fighting parents can affect children in numerous ways. Undoubtedly, the economic ability of a family will greatly affects the way a family lives.
Money runs the world, let be honest. How much money a family earns will facilitate or halter opportunities during a child's live. A family who has little to no income will usually be forced to live in a rougher area of their town. This can lead to unwanted dangers, such as increased drug and alcohol use or fighting or even theft. If a family cannot feel safe in their own home, this family's quality of life will be extremely poor, as safety is often considered one of the most important qualities when it comes to having a satisfying life. This is even truer if children are involved. Children deserve to grow up in a place where they can feel secure at all times and can play outside without and risk. It is important in a child's mental development to be able to meet ...

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This paradox leads to the belief that as college prices rise, only the upper class families will have the available funds to send their children to college, which will rip the wealth distribution wide open. Lower class families' children will then have no chance to attain a good job and will be destined to stay in the lower class. Before that happens, we can already see that lower class children are already losing out on opportunities, such as the ability to go to a top tier university, such as an Ivy League institution. This could be due to a families inability to pay for such an expensive school, but it could also have to do with the fact that a majority of upper class children will ...

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PAPER DETAILS
Added: 5/9/2012 10:16:33 PM
Submitted By: jedediah77
Category: Economics
Type: Premium Paper
Words: 1379
Pages: 6

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